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☆ European markets set to open lower following slew of central bank decisions
▼ + stars: | 2024-09-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

Shoppers on the high street in the Kingston district of London, U.K.LONDON — European markets were poised to open lower Friday as investors digested a slew of central bank rate decisions this week and their impact on the global economy. The U.K.'s FTSE 100 was seen opening 41 points lower at 8,291, Germany's DAX down 59 points at 18,939, France's CAC 2 points lower at 7,604 and Italy's FTSE MIB down 124 points at 33,913, according to IG data. The regional Stoxx 600 closed higher Thursday, after the U.K.'s Bank of England and Norway's Norges Bank both held rates steady, drawing a contrast with the U.S. Federal Reserve's bumper rate cut a day prior.

Persons: Germany's DAX Organizations: LONDON, CAC, Bank of England, Norway's Norges Bank, U.S Locations: Kingston, London, U.S . Federal

☆ Germany won't sell more Commerzbank shares for now, finance agency says
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: 1 min

Germany will not sell any more shares in Commerzbank for the time being and the bank's strategy is "geared towards independence," the nation's finance agency said on Friday. The statement comes days after the Italian bank UniCredit announced it had bought a 9% stake in Commerzbank - from the German government as well as on the open market - and its chief executive said he wanted to explore a merger. The agency announced that at a meeting on Friday it decided it "will not, until further notice, sell any additional shares".

Organizations: UniCredit Locations: Germany, Commerzbank

☆ Yen nurses losses as BOJ meets, dollar dogged by rate outlook
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: +3 min

Japanese 10,000 yen, left, and US 100 dollar banknotes arranged for a photograph in Tokyo, Japan, on Friday, May 10, 2024. It has been a tough week for the yen, with the euro gaining 2.2% to 159.46 as speculators booked profit on recent long yen positions. The dollar was up 1.4% for the week at 142.84 yen , though off an overnight high of 143.95. "As such, there is scope to further raise the policy rate while keeping financial conditions accommodative," she said. "The recent financial market ructions and the upcoming Liberal Democratic Party election may make the BOJ more cautious about raising."

Persons: Samara Hammoud, Kazuo Ueda, Sterling Organizations: Bank of, U.S ., CBA, 25bp, Liberal Democratic Party, U.S Locations: Tokyo, Japan, Bank of Japan, Samara, China, U.S . Federal, Bank of England

☆ Ikea's fleet of 250 autonomous drones takes stock of warehouse inventory without any human intervention
▼ + stars: | 2024-09-20 | by ( John Kell | ) www.businessinsider.com time to read: +9 min

Three years ago, a drone took flight at an Ikea warehouse in Switzerland for the first time. They're more self-sufficient, too: For every 10 minutes that a Verity drone is in flight, it charges for 20 minutes. Ikea's investments in Verity's drone technology fit into its broader strategy to explore and test newer supply-chain technologies. Jönsson added that deploying drones has allowed employees to have more time for analyzing inventory data. Before using warehouse drones, workers would check thousands of pallets repeatedly in order to manage inventory.

Persons: Verity, —, Raffaello D'Andrea, — there's, Uber, Jeff Bezos, Bezos, Domino's, there's, DroneUp, D'Andrea, Verity hasn't, it's, Moller, Erik Jönsson, they're, haven't, Jönsson Organizations: Ikea, Chain Management, Service, Amazon, Walmart, Companies, McKinsey & Company, McKinsey, Ikea's, Ingka, Maersk, Samsung Group, Ingka Investments, Nvidia, Federal Aviation Administration, Investors, Kiva Systems, Amazon Robotics, Qualcomm Ventures, A.P, Moller Holding, Exor Ventures Locations: Switzerland, Swiss, Dutch, —, Zealand, Arizona , Florida, Utah, Dallas

☆ A 41-year-old transformed his body with 2 diet changes and 1 simple workout technique
▼ + stars: | 2024-09-20 | by ( ) www.businessinsider.com time to read: +1 min

Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! AdvertisementAn office worker got ripped and transformed his fitness in seven months with a few simple changes to his diet and exercise routine. "I've always been somebody who went to the gym, but I didn't really know how to achieve what I wanted to do," he told Business Insider. This story is available exclusively to Business Insider subscribers.

Persons: —, Alec Knebeg, I've Organizations: Service, Business Locations: London

☆ Bank of Japan keeps key interest rate steady as it treads cautiously on normalizing policy
▼ + stars: | 2024-09-20 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

The Japanese flag flutters over the Bank of Japan (BoJ) head office building (bottom) in Tokyo on April 27, 2022. The Bank of Japan kept its benchmark interest rate steady at "around 0.25%" — the highest rate since 2008 — at the conclusion of a two-day meeting Friday. Japan's economy has recovered moderately, the central bank said in its official statement, while acknowledging "some weakness has been seen in part." BOJ Governor Kazuo Ueda said last month that the central bank would continue to raise interest rates if the economy and inflation stayed in line with the central bank's projection. On Thursday, The U.S. Federal Reserve cut interest rates by 50 basis points to a range of 4.75% to 5.0%.

Persons: BOJ, Kazuo Ueda Organizations: Bank of Japan, The Bank of Japan, Nikkei, U.S . Federal Reserve Locations: Tokyo

☆ BOE doesn't share the Fed's urgency: MUFG
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBOE doesn't share the Fed's urgency: MUFGHenry Cook, senior Europe economist at MUFG, says the Bank of England is in no rush to front-load its policy easing path, highlighting key areas of concern compared to the Fed & the US economy.

Persons: BOE, Henry Cook Organizations: Bank of England, Fed Locations: Europe

The longest video shows three Israeli soldiers standing on a rooftop. “This is a serious incident that does not coincide with IDF values and the expectations from IDF soldiers,” the military said in a statement to CNN. The governor of Jenin, Kamal Abu Al-Roub, told CNN that the Israeli military took four bodies from Qabatya. “Soldiers went up and kicked and pushed the bodies off the roof, as we have seen. The Israeli military has in recent weeks used increasingly militarized tactics in the occupied West Bank.

Persons: Kamal Abu Al, Ameed, ”, “ Soldiers, “, Mustafa Barghouti, Lauren Izso, Tim Lister Organizations: Jerusalem CNN, West Bank, Israel Defense Forces, Associated Press, CNN, Al, IDF, Israeli Security Agency, Palestinian Ministry of Health, Palestine Red Crescent Society Locations: Jerusalem, Qabatya, Jenin, Qabatiya, Palestinian, Palestine

☆ Appreciation of the yen could slow the pace of BOJ rate hike, economist says
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAppreciation of the yen could slow the pace of BOJ rate hike, economist saysTakahide Kiuchi, executive economist at Nomura Research Institute, expects that the Bank of Japan will hike rates in January 2025.

Persons: Takahide Kiuchi Organizations: Nomura Research Institute, Bank of Locations: Bank of Japan

☆ October is becoming the new Black Friday
▼ + stars: | 2024-09-20 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Earth doesn't turn towards autumn until the equinox on Sunday, but that's not stopping America's retailers from kicking off the holiday season while the leaves are still green. Recent announcements from Amazon, Walmart, Target, and Best Buy have the second week of October shaping up to look like Black Friday. Related storiesAs just alluded to, the holiday shopping season should be shorter this year as Thanksgiving falls late (the fourth Thursday in November), pushing Black Friday all the way out to November 29. AdvertisementOf course, the Black Friday dam has been broken for years, with deals starting as soon as Halloween. AdvertisementEither way, this year's holiday shopping season is shaping up to be a marathon.

Persons: —, it's, what's Organizations: Service, Walmart, Target, Business, Amazon's Locations: Amazon

☆ Middle East on the precipice after Hezbollah leader vows retribution and Israel launches strikes. Here’s what we know
▼ + stars: | 2024-09-20 | by ( Helen Regan | ) edition.cnn.com time to read: +6 min

In a speech Thursday, Hezbollah leader Hassan Nasrallah condemned the twin attacks, calling them “massacres” that “crossed all the red lines” because the devices exploded in public areas, with civilians among those harmed. Though Hezbollah “suffered a major blow,” a “reckoning will come,” he added, and vowed the attacks would not bring the group down. The Hezbollah chief also warned Israel that fighting on the Lebanese front will not stop until hostilities end in Gaza. Hours later, Israel launched a barrage of strikes in Lebanon, saying it hit about 100 Hezbollah rocket launchers and “terrorist infrastructure sites.”Meanwhile, Hezbollah said it launched at least 17 attacks on military sites in northern Israel. For months, the international community has been trying to de-escalate tensions between Israel and Hezbollah.

Persons: CNN — Israel, Israel’s, Hassan Nasrallah, “, Israel, Nasrallah, –, Hossein, Israel “, Ismail Haniyeh Organizations: CNN, Hamas, Hezbollah, United Nations Security, Iran’s Revolutionary Guard, UN Security Locations: Lebanon, Israel, Gaza, Iran, Lebanese, Beirut, Tehran, Yemen, Syria, Iraq, Argentina, India, Georgia, Thailand, United States

☆ Family offices are the most bullish they've been in years, survey says
▼ + stars: | 2024-09-20 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

Family offices are the most bullish they've been in years, putting their cash to work in stocks and alternatives as the Fed starts to cut interest rates, according to a new survey. Nearly all family offices, 97%, expect positive returns this year, and nearly half expect double-digit gains, according to Citi Private Bank's 2024 Global Family Office Survey. With interest rates heading down, family offices are also regaining their appetite for stocks. More than a third, 39%, of family offices plan to increase their allocation to developed-market equities, mainly the U.S., while only 9% plan to trim their equity exposure. That comes after 43% of family offices increased their exposure to public stocks last year.

Persons: Robert Frank, they've, Hannes Hofmann Organizations: Citi, Citi Private Bank

☆ Colliers U.S. CEO: Commercial real estate still has some stress to come and loans to be worked out
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailColliers U.S. CEO: Commercial real estate still has some stress to come and loans to be worked outGil Borok, Colliers U.S. and Latin America CEO, joins 'Money Movers' to discuss if Borok thinks rate cuts mark the peak in commercial real estate delinquencies, how the chief executive sees the current environment, and much more.

Persons: Gil Borok, Borok Organizations: Colliers, Colliers U.S, America

☆ The best-selling country musicians of all time
▼ + stars: | 2024-09-20 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +1 min

The best-selling country artists of all time include Elvis Presley, Tim McGraw, and Shania Twain. We used RIAA's data to compile this list based on total album units sold in the US. Only three artists on this list debuted in the 2000s: Carrie Underwood, Taylor Swift, and Rascal Flatts. In fact, two of the top three best-selling musicians of all time are country music artists: Elvis Presley and Garth Brooks. We used the Recording Industry Association of America's (RIAA) list of best-selling artists, ranked by albums sold, to pick out the top 25 most successful country musicians of all time.

Persons: Elvis Presley, Tim McGraw, Shania Twain, Carrie Underwood, Taylor Swift, Rascal, —, Garth Brooks Organizations: Service, Recording Industry Association of America's, Business

☆ 64% of U.S. retirement savers make this 'dangerous' assumption—'avoid it at all costs,' says CFP
▼ + stars: | 2024-09-20 | by ( Ryan Ermey | ) www.cnbc.com time to read: +2 min

The idea behind saving for retirement is to provide yourself with income between when you stop working and when you die. For those born after 1960, full retirement age — when you receive a full Social Security benefit — is age 67. So maybe it's not surprising that most U.S. retirement savers aren't planning on a lengthy retirement. "Building a plan around spending your assets down to zero, for us, we simply avoid it at all costs." In fact, the median retirement age for U.S. workers is 62, according to research from the Employee Benefit Research Institute.

Persons: CNBC's, SurveyMonkey, Yusuf Abugideiri, Yeske Buie, Abugideiri, you'll Organizations: National Center for Health Statistics, Social Security, Research Locations: Vienna , Virginia, America

☆ 'The Penguin' star Michael Zegen shot his shocking scene with Colin Farrell on the first day of filming: 'I was nervous, he was nervous, we were all on the same page'
▼ + stars: | 2024-09-20 | by ( Eammon Jacobs | Caralynn Matassa | Palmer Haasch | ) www.businessinsider.com time to read: +3 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Read previewWarning: Major spoilers ahead for "The Penguin" episode one, "After Hours." Actor Michael Zegen said that he shot his shocking scene in the premiere on the "first day" that "The Penguin" TV series started filming. Michael Zegen knew Alberto Falcone was going to die when he joined "The Penguin"Michael Zegen as Alberto Falcone in "The Penguin." The bottom line is I got to do this really cool 10-page scene with Colin Farrell, so I was happy.

Persons: —, Michael Zegen, Zegen, Alberto Falcone, Falcone, Oz Cobb, Colin Farrell, Carmine Falcone, John Turturro, Mark Strong, Cobb, Alberto, Maisel, Farrell, I'm, Robert Pattinson, Matt Reeves Organizations: Service, Business, HBO, Penguin Locations: Cobb, New York City

☆ Mohamed Al-Fayed, the late billionaire with links to the royal family, has been accused of sexually abusing multiple women
▼ + stars: | 2024-09-20 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +4 min

Read previewMohamed Al-Fayed, an Egyptian-born billionaire, owned Harrods, a luxury London department store, for 26 years. After decades of fame and controversy, Al-Fayed died last August aged 94. Now, after years of mounting evidence and speculation, multiple women have come forward to say Al-Fayed sexually assaulted them. I just wanted it to be over," one unnamed woman, who said Al-Fayed raped her at his apartment in London's upmarket Park Lane, told the broadcaster. Al-Fayed owned Harrods for 26 years and later owned Fulham Football Club and the Paris Ritz.

Persons: —, Mohamed Al, Fayed, Princess Diana's, Dodi Fayed, Al, Gloria Allred, Mohamed Al Fayed, Forbes, Diana, Prince William, Prince Harry, St . Tropez Organizations: Service, Business, Harrods, Sky News, BBC, Al, CNN, Fulham Football Club, Paris Locations: Egyptian, Harrods, London, Paris, Park, St .

☆ There's a 12% correction looming for the stock market by the end of the year, Stifel says
▼ + stars: | 2024-09-20 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Stifel warns of a sharp stock market correction by year-end, with the S&P 500 potentially dropping 12%. "Our instruments tell us to expect an S&P 500 correction to the very low 5,000s by 4Q24," Bannister said. AdvertisementInvestors should prepare for a sharp and quick correction in the stock market before the end of the year, according to Stifel. In a note on Thursday, chief equity strategist Barry Bannister of Stifel warned that the S&P 500 could trade 12% lower in the fourth quarter. "Our instruments tell us to expect an S&P 500 correction to the very low 5,000s by 4Q24," Bannister said.

Persons: Stifel, Barry Bannister, Bannister, — Organizations: Service

☆ TikTok's global head of marketing is leaving as part of a reorg. Read the leaked memo to staff outlining the changes.
▼ + stars: | 2024-09-20 | by ( Dan Whateley | ) www.businessinsider.com time to read: +6 min

Read previewKate Jhaveri, TikTok's head of global marketing, is leaving the company this month as part of a leadership shake-up, according to an internal memo shared with staffers. "Together, we decided the best way to achieve this vision is to remove the head of global marketing role, and bring everyone within Global Brand & Comms under one leader." Its former VP of global communications, Hilary McQuaide, exited the company that same month, the executive posted on LinkedIn. Together, we decided the best way to achieve this vision is to remove the head of global marketing role, and bring everyone within Global Brand & Comms under one leader, aligning our work and goals toward one comprehensive vision. AdvertisementFinally, we are also making a change to our social media team to enable a more scalable model for Global Brand & Comms.

Persons: —, Kate Jhaveri, Zenia Mucha, Mucha, Jhaveri, Zuber Mohammed, Hilary McQuaide, ByteDance, Kate, Dexter Fedor, Manish Gupta, Alistair Lennie, Zuber, Alastair Boyle, Jordan Guo, Carol Baracat, Helen Lawrence, Erin Fors Organizations: Service, Global, Business, Disney, NBA, LinkedIn, CSR, AMS, EMEA, Global Brand Locations: Beijing

Read previewThe new AI iPhone is officially available in Apple stores, hitting shelves in almost 60 countries around the world on Friday. The iPhone 16 is the first phone to launch in Apple's new era of artificial intelligence. Although the iPhone 16 won't come straight out of the box with Apple Intelligence, it's one of only two iPhone generations that's compatible with the software. They had pre-ordered the iPhone 16 for themselves and their friends. AdvertisementQueues outside Apple store in Singapore 1 hour into store opening.

Persons: —, there's, Shubhangi Goel, Apple Organizations: Service, Apple, Apple Intelligence, Business, Control, BI, Orchard, Samsung, Huawei, Apple Watch, Lines, Regent, Apple's Regent Locations: Orchard, Singapore, Vietnam, Sri Lanka, India, London, Apple's, Covent Garden, Covent, Europe, Mumbai, Hangzhou, China

☆ 'I agonized over it': Behind the scenes with the reporter who uncovered the RFK Jr./Olivia Nuzzi story
▼ + stars: | 2024-09-20 | by ( Peter Kafka | ) www.businessinsider.com time to read: +8 min

After you put out your story and New York magazine put out a statement, Nuzzi put out her own statement, which might change the way people perceive the story. And as New York magazine said, I think they're taking this pretty seriously. Since we're having a media business conversation now: I was surprised when you launched that you made this a subscription product. There is lots of media journalism out there that is for free. So this stuff is expensive, and if you want to support good journalism, I think you should pay for it.

Persons: —, Olivia Nuzzi, Robert F, Kennedy Jr, Donald Trump, Nuzzi, Oliver Darcy, Darcy, Olivia, Joe Biden, It's, She's, CNN's Donie O'Sullivan, Tasos Katopodis, it's, I've, there's Organizations: Service, RFK Jr, Business, CNN, Vox Media, New York, RFK, White, York, Getty Images Locations: Olivia Nuzzi , New York, Donald Trump ., York, New York, America

☆ We expect to keep policy rate at 4.5% until end of the year, Norway central bank chief says
▼ + stars: | 2024-09-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe expect to keep policy rate at 4.5% until end of the year, Norway central bank chief saysNorges Bank Governor Ida Wolden Bache discusses the decision to hold interest rates in September.

Persons: Norges Bank Governor Ida Wolden Bache Organizations: Norges Bank Governor Locations: Norway

☆ From gold and silver, to oil and aluminum: Where analysts see prices now the Fed has cut rates
▼ + stars: | 2024-09-20 | by ( Weizhen Tan | ) www.cnbc.com time to read: +6 min

HSBC in a Sept. 17 report examined the relationship between Fed rate cuts and copper and aluminum prices over the past 30 years. In its base case, Citi sees copper prices averaging $9,000 per ton for the rest of this year, citing U.S. election uncertainty and weak manufacturing sentiment. Energy Citi anticipates that oil will suffer renewed price weakness in 2025, with Brent falling to around $60 a barrel. Based on what happened in 2019, trade tariffs lowered global oil demand growth by 0.2 million barrels a day. A slowdown in China, among the world's largest importer and consumer of oil, has been blamed on slowing global oil demand.

Persons: annualized, it's, that's, Brent Organizations: U.S . Federal Reserve, Citi, HSBC, Commodities, Energy Citi Locations: China, U.S, Europe, Iran

☆ This expensive luggage may be key to LVMH's future — here's how Rimowa's CEO plans to keep growing
▼ + stars: | 2024-09-20 | by ( Brittany Chang | ) www.businessinsider.com time to read: +4 min

It's a luggage maker best known for one product, a grooved aluminum suitcase with a rabid fan base. Despite this, the suitcase company (along with cashmere maker Loro Piana) continued their "excellent momentum," LVMH said. It's "another step in the fashion space," Bonnet-Masimbert said, and a hint of how the company hopes to progress in the coming years. For a company so synonymous with luggage, it was an "interesting challenge," the CEO said — one that took three years to develop. "We feel we are very legitimate in that space, and that opens a lot of future product offerings," Bonnet-Masimbert said.

Persons: —, Louis Vuitton, Tiffany, Rimowa, Brittany Chang, Tumi, Vanessa Garoute, Tania Antonenkova, Martha Stewart, Piana, LVMH, Hugues Bonnet, Masimbert, Lewis Hamilton, Clive Mason, isn't, Bonnet Organizations: Service, Dior, Business, LVMH, tote Locations: Germany, China, Europe, Asia, North America

A staffer of vice presidential candidate JD Vance called Springfield City Manager Bryan Heck on September 9 and asked if there was any truth in rumors that Haitian immigrants were taking and eating pets in Springfield, Heck told the Journal. I told them these claims were baseless.”“Yes, that call was made,” Springfield Mayor Rob Rue told CNN’s “Laura Coates Live” Thursday. Although the false claims about Haitian immigrants abusing animals have been widely discredited, Trump and Vance have doubled down since the debate. Asked Sunday by CNN’s Dana Bash to back up his claims, Vance, a US senator from Ohio, said he has received concerns from constituents, though he did not provide evidence. Two Ohio state trooper vehicles parked outside the Springfield City Schools office Friday.

Persons: JD Vance, Bryan Heck, Heck, ” Heck, ”, Rob Rue, CNN’s, Laura Coates, “, Donald Trump, Springfield, Mike DeWine, ” DeWine, Sassy, Jeff Winter, Anna Kilgore, Kilgore, Trump, Vance, CNN’s Dana Bash, Dana, ” Vance, Rue, Vilbrun Dorsainvil, ” Rue, “ We’ve, Warren Davidson, ” Davidson, ” CNN’s Jeff Winter, Meridith Edwards, Omar Jimenez Organizations: CNN, Trump, Springfield City, Springfield, ” CNN, ” Ohio Republican Ohio Gov, The New York Times, Clark State College, Wittenberg University, Wall Street, Springfield City Schools, Springfield “, Trump . Ohio, Republican, “ Locations: Springfield , Ohio, Springfield, ” Ohio, Ohio, he’s

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